Operational KPIs Take Emotion Out of the Equation

(Accounting and Finance) Permanent link

08_11_15_175wIn Part 1 of our Executive Dashboard series we introduced key questions that club leaders should be asking, the measures that can be used to answer those questions and the first section of the Club Benchmarking Executive Dashboard – key performance indicators related to operating finance. Read more...

Part Two – Can CapEx Protocols Distort Dues Pricing?

(Accounting and Finance, Membership) Permanent link

7_9_15_175wA Dangerous Effect on Pricing 

In every metropolitan area, there are top tier clubs that compete with each other for the wealthiest members, a mid-level tier that competes for the next rung of members and a bottom-level tier. Read more...

Can CapEx Protocols Distort Dues Pricing?

(Accounting and Finance, Membership) Permanent link

 06_30_15
Avoiding the Cycle of Capital Dues

Here’s a question that general managers and board members at private clubs nationwide should ask themselves in earnest: How many businesses ignore market pricing in setting the price for their own product? Read more...

Understanding, Extending Course Life Via Reserve planning

(Accounting and Finance) Permanent link

06_25_15One of the biggest problems we see in this era of stressed operating budgets is a lack of appropriate reserves to replace golf course items that wear out over time.

In many cases, clubs don’t want to acknowledge these items, either because they’re refinancing and want to show the highest value possible, the board is looking to balance the budget, or sometimes an owner is seeking to sell the property for the highest possible price. Read more...

Defined Contribution (401(k)) Legal and Regulatory Update

(Accounting and Finance, Human Resources) Permanent link

6_16_2015_175wThe regulatory landscape for Defined Contribution plans such as 401(k), 403(b) and 457 are constantly being reviewed and analyzed by the Department of Labor (DOL) as well as Congress in the form of new bills being introduced. It is important to stay abreast of current and potential changes to rules and definitions as they make their way through the legislative process. Read more...

The Executive Dashboard Part 2: Use Capital Generation KPIs to Design Your Club’s Future

(Accounting and Finance, Facilities Management) Permanent link

06_3_2015_175wIn Part 1 of our Executive Dashboard series, we introduced the idea of key questions for club leaders, the measures that can be used to answer those questions and the first section of the Club Benchmarking Executive Dashboard -- key performance indicators related to operating finance.

The second section of the Executive Dashboard—“Capital Generation”— is comprised of three KPIs that correlate directly to a club’s future. Read more...

Do You Really Need Technology to Run Your Restaurant More Efficiently?

(Accounting and Finance, Food and Beverage, Technology) Permanent link

5_25_15_175wThis may seem like a strange question coming from a technology provider, but it’s a valid one. Does your restaurant, country club or food service operation really need to rely on technology to run more efficiently and productively?  Haven’t restaurants been around for decades before the emergence of POS systems, online reservations, menu boards and accounting software to track sales and expenses? Read more...

Questions are the Key to KPIs - An Executive Dashboard for the Club Industry

(Accounting and Finance, Facilities Management) Permanent link

4_23_15_175wYou’ve heard the phrase “measure what matters,” but how do you decide what matters? The answer to that question probably varies from club to club, but the goal is still the same—to identify a set of measures that can be used to accurately assess and effectively manage performance. Deciding what to measure begins by figuring out what you want (and need) to know about your club. In Einstein’s words, you start by “determining the proper questions to ask.” Read more...

This information is provided for informational purposes only. The contents are presented with no warranty, either expressed or implied by the Club Managers Association of America. No legal responsibility is assumed for the outcome of decisions, commitments or obligations made on the basis of this information. If your club is faced with a question concerning legal issues, you should contact the club’s legal counsel for the specific application of the law to your situation.